I can see now that some people may start panicking and thinking about merging rosters and such. I feel there really is no such need yet.
Does the newspaper report make sense? Yes, Air China is worth less than CX, but when you consider that (reportedly) the Swire management is taking a major stake in the new group, the mathematics do work out.
If indeed this report becomes reality, how will it work out?
Speculate on, this is a rumour network afterall...